Diamond Hill Capital Management LLC Investment Advisor Buys Shares of 22,445 AZZ Inc. $AZZ

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of AZZ Inc. (NYSE:AZZ) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 22,445 shares of the industrial products company’s stock, valued at approximately $3,480,000.

Several other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. boosted its stake in AZZ by 92.5% during the 4th quarter. Hantz Financial Services Inc. now owns 258 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 124 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of AZZ in the second quarter valued at approximately $30,000. Kestra Advisory Services LLC acquired a new stake in shares of AZZ in the fourth quarter valued at approximately $38,000. Clearstead Advisors LLC raised its holdings in shares of AZZ by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $39,000 after buying an additional 234 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of AZZ by 55.9% during the fourth quarter. Fifth Third Bancorp now owns 382 shares of the industrial products company’s stock valued at $41,000 after buying an additional 137 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey Vellines sold 4,220 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $153.55, for a total transaction of $647,981.00. Following the transaction, the chief operating officer directly owned 1,834 shares of the company’s stock, valued at approximately $281,610.70. The trade was a 69.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Bryan Lee Stovall sold 2,677 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $150.07, for a total transaction of $401,737.39. Following the completion of the transaction, the chief operating officer directly owned 35,000 shares in the company, valued at $5,252,450. This trade represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.70% of the company’s stock.

AZZ Stock Up 1.1%

AZZ stock opened at $152.98 on Tuesday. The firm has a market cap of $4.60 billion, a PE ratio of 23.32 and a beta of 1.12. AZZ Inc. has a 12 month low of $92.98 and a 12 month high of $162.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.92 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $150.30 and a 200 day simple moving average of $139.65.

AZZ (NYSE:AZZ) last announced its earnings results on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.05. The company had revenue of $448.53 million for the quarter, compared to analyst estimates of $434.58 million. AZZ had a return on equity of 14.18% and a net margin of 11.83%.AZZ’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 earnings per share. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. Equities research analysts forecast that AZZ Inc. will post 6.93 earnings per share for the current fiscal year.

AZZ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were issued a dividend of $0.24 per share. This is an increase from AZZ’s previous quarterly dividend of $0.20. This represents a $0.96 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, July 9th. AZZ’s dividend payout ratio is 14.63%.

Analysts Set New Price Targets

AZZ has been the subject of a number of recent analyst reports. B. Riley Financial increased their price objective on AZZ from $169.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Wall Street Zen downgraded AZZ from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Evercore reiterated an “outperform” rating and set a $152.00 price target on shares of AZZ in a research report on Monday, April 27th. Weiss Ratings cut AZZ from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 9th. Finally, Robert W. Baird raised their price target on AZZ from $125.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $155.25.

AZZ Profile

AZZ Inc, incorporated in 1956 and headquartered in Fort Worth, Texas, is a leading provider of galvanizing and metal finishing solutions alongside electrical equipment and services. The company supports a diverse range of industries—such as energy, infrastructure, heavy equipment and general industrial markets—by delivering corrosion protection and high-performance electrical solutions designed for demanding environments.

AZZ operates two primary business segments. The Global Coatings & Services segment offers hot-dip galvanizing, metal finishing, painting, powder coating and related value-added services to steel fabricators and original equipment manufacturers.